The ability is neigh useless, you can't really build a deck around that utility.

What deck is there that wants colorless lands but also wants a crappy abilty that effectively costs 6 to get 5 mana of colors that you want?

I can only imagine the card for 2 decks. Some kind of eldrazi deck that can use the colorless land but also has some activated ability or something like engineered explosives where the second utility is useful. I doubt it's good for that though.

The second use I can see is a deck abusing there are two indestructible lands now. Perhaps something focused around boom/bust and similar cards. Seems doubtful though.

The ability is neigh useless, you can't really build a deck around that utility.

What deck is there that wants colorless lands but also wants a crappy abilty that effectively costs 6 to get 5 mana of colors that you want?

I can only imagine the card for 2 decks. Some kind of eldrazi deck that can use the colorless land but also has some activated ability or something like engineered explosives where the second utility is useful. I doubt it's good for that though.

The second use I can see is a deck abusing there are two indestructible lands now. Perhaps something focused around boom/bust and similar cards. Seems doubtful though.

Except that isn't how professional deckbuilding works.
You don't stick a bunch of "build around me" cards in a deck and hope it doesn't explode and kill 3 million people before you get to the tournament.
You put a bunch of efficient cards that work well together in a deck and play that.

And no. This card isn't going to see play in standard or modern. But that doesn't excuse the rant.

See, there's something that floats about the casual (and sometimes, rarely, competitive) sphere called WUBRG. It plays five colors, and in order for it to work, it has to have five colors. If it doesn't have five colors, you're ****ed, because you can't just play four colors and put a $50 bill on the table to cover the fifth and call it good. You have to actually have that fifth color. If you don't, you can't play the card, and that card is dead to you. That's how colored mana works in this game.